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An announcement from Magontec Limited ( (AU:MGL) ) is now available.
Magontec Limited reported a gross profit of $10.8 million for 2024, despite facing challenges such as a $2.7 million EBITDA loss from continuing businesses and a $3.5 million non-cash impairment loss from its discontinued Qinghai project. The company saw a 40% increase in net tangible assets per share after canceling a 28.5% shareholding, and it holds a net cash position of $5.5 million. The company is undergoing a strategic review to address market challenges and capitalize on its strong asset base, with expectations of improved demand and pricing as global economic conditions stabilize.
More about Magontec Limited
Magontec Limited is a global manufacturer specializing in magnesium products, with a focus on magnesium alloy recycling in Europe and cathodic corrosion protection manufacturing. The company is positioned in niche markets with high-quality production assets and a knowledgeable management team.
YTD Price Performance: 13.89%
Average Trading Volume: 9,298
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$11.68M
For detailed information about MGL stock, go to TipRanks’ Stock Analysis page.